SINGAPORE–(BUSINESS WIRE)–On October 31, the gamefi project WIN NFT HORSE announced that they would launch the first IGO in a collaboration with Binance ,a giant in the cryptocurrency exchange industry.
Thanks to the boom of NFT concept, the concept of Gamefi is also gradually accepted by more people. According to DappRadar, as of September 27, 2021, the volume of game users reached 927,000 and the daily trading volume reached $15.62 million.
Despite the efforts to brand itself as the very platform that brought the Play-to-Earn model to prominence and drove wide adoption among the gamer’s community, Gamefi game players are still less than the number of traditional games, the game playability is relatively low.
It is critical for games, particularly those of social networking nature, to have a sustainable economic model on top of their innovative gameplay.
WIN NFT HORSE cracks this problem by proposing a burning mechanism for NFTs and the reward tokens, where a proportion of the in-game prop NFTs that gamers contribute daily will be taken back by the system to prevent the props and tokens held by gamers from depreciating.
On October 31, WIN NFT HORSE unveiled part of its gameplay. As WIN NFT Horse previously announced, gamers need to hold TRX, the native token of TRON’s MainNet, to buy the main props, namely NFT racehorses. Gamers with racehorses can play against each other. Winners will receive NFT tokens, make their way to the leaderboard, and win up to $5,000 worth of WIN tokens. Players who own two racehorses have a chance to get a foal of a rarer breed, and any WIN and NFT they have spent will be burned once the player chooses the foal.
According to the developers of WIN NFT HORSE, 50% of the TRX income earned by the project will be used to buy back NFT and the other 50% WIN.
This pattern keeps a lid on the supply of in-game NFTs and maintains the market value of NFT and WIN as two reward tokens through the burn-and-buyback mechanism.
WIN NFT HORSE is known as a “GameFi + NFT” game jointly launched by TRON, APENFT Foundation, and WinkLink. The horse racing-themed game is also the first-ever GameFi project in the TRON ecosystem.
TRON, one of the world’s top three public chains, is a highly regarded player in blockchain technology innovation, while APENFT is a foundation specializing in art NFTs and it also possesses artworks from world-renowned artists like Pablo Picasso, the crypto artist Beeple, and many others. And WINkLink is the first oracle project in the TRON ecosystem.